Precious Metal Refining Archives - Manhattan Gold & Silver https://www.mgsrefining.com/blogs/categories/precious-metal-refining/ New York Tue, 16 Apr 2024 21:55:33 +0000 en-US hourly 1 https://www.mgsrefining.com/wp-content/uploads/2019/10/favicon.ico Precious Metal Refining Archives - Manhattan Gold & Silver https://www.mgsrefining.com/blogs/categories/precious-metal-refining/ 32 32 The History of The Royal Canadian Mint https://www.mgsrefining.com/blog/royal-canadian-mint/ Tue, 30 Apr 2024 15:22:00 +0000 https://www.mgsrefining.com/?p=19395 Our latest trip on our tour of mints around the world bring us to Canada! The Royal Canadian Mint has a history that dates back over a century. Join us as we discover early years of the Mint, explore key milestones, see popular coins produced, and uncover the unique features that make the Royal Canadian […]

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Our latest trip on our tour of mints around the world bring us to Canada! The Royal Canadian Mint has a history that dates back over a century. Join us as we discover early years of the Mint, explore key milestones, see popular coins produced, and uncover the unique features that make the Royal Canadian Mint a standout. Ready to explore the illustrious world of Canadian coins? Let’s dive in.

Establishment and Early Years

The Royal Canadian Mint was established in 1908 as a branch of the Royal Mint in London, England, to meet growing demand for Canadian currency. In its early years, the Mint aimed to create coins that reflected the unique identity and history of Canada.

Key Innovations and Milestones

Over the years, the Royal Canadian Mint has been at the forefront of numismatic innovation, introducing new technologies and processes that revolutionized coin production. One of the key milestones in the Mint’s history was the introduction the world’s first 99.999% pure gold bullion coin, the “Million Dollar Coin,” weighing 100 kilograms and boasting a face value of $1 million. This coin quickly became a symbol of excellence and craftsmanship while setting a new standard for purity and quality in the industry.

Another significant innovation was the introduction of the world’s first colored circulation coin, the 25-Cent Remembrance Poppy coin, in 2004, commemorating the sacrifice of Canadian soldiers in World War I. These key innovations and milestones have not only solidified the Mint’s reputation as a leader in coin production but paved the way for future advancements.

Popular Coins Produced

This rich history seamlessly transitions into the creation of iconic coins produced by the Royal Canadian Mint. Among its most notable creations is the Canadian Maple Leaf series, featuring a maple leaf design and struck in gold, silver, platinum, and palladium. Another well-known coin from the Mint is the Canadian Wildlife Series, showcasing Canada’s diverse fauna through stunning wildlife-themed designs.

These coins have not only captivated collectors and investors worldwide but have also solidified the Mint’s reputation as a leader in coin production.

Unique Features of the Royal Canadian Mint

One of the unique features that sets the Royal Canadian Mint apart from other countries’ mints is its commitment to sustainability. As one of the most environmentally friendly mints in the world, the Mint has implemented various initiatives to reduce its carbon footprint and promote responsible practices. From using recycled materials in the production of their coins to investing in energy-efficient technology, the Mint is dedicated to preserving the environment for future generations.

Another standout feature of the Royal Canadian Mint is its dedication to innovation. From creating the world’s first colored circulation coin to incorporating cutting-edge security features into their designs, the Mint is constantly pushing the boundaries of what is possible in coin production.

Furthermore, the Royal Canadian Mint is known for its collaborations with artists and designers from around the world. By working with a diverse range of talent, the Mint is able to release coins that are not only visually stunning but also culturally significant. From celebrating Canada’s rich history and heritage to honoring important milestones and events, the Mint’s collaborations ensure that each coin tells a unique and meaningful story.

Whether you are a seasoned collector or just starting out, exploring the coins from the Royal Canadian Mint is a must for any enthusiast. If you’re ready to add some of these historic coins to your collection, don’t hesitate to give us a call.

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The Environmental Impact of Recycling Precious Metals https://www.mgsrefining.com/blog/impact-recycling-precious-metals/ Tue, 16 Apr 2024 20:46:36 +0000 https://www.mgsrefining.com/?p=19388 In honor of Earth Day, we’re sharing about how recycling your precious metals can have a positive impact on the environment. In this blog post, we’ll explore how working with a trusted partner like Manhattan Gold & Silver can reduce waste, conserve resources, and promote sustainability in the precious metal industry. By choosing to recycle […]

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In honor of Earth Day, we’re sharing about how recycling your precious metals can have a positive impact on the environment. In this blog post, we’ll explore how working with a trusted partner like Manhattan Gold & Silver can reduce waste, conserve resources, and promote sustainability in the precious metal industry. By choosing to recycle your gold, silver, rhodium, platinum, and palladium, you can play a vital role in creating a cleaner, greener Earth.

Reducing Waste through Precious Metal Recycling

Let’s dive right into the facts: recycling precious metal reduces waste. Through the process of recycling, precious metals are extracted from end-of-life products and reused in new applications, eliminating the need for additional mining. This helps reduce waste that can end up in landfills and cuts back on the environmental impact of traditional mining practices. By choosing to recycle your precious metals, you are not only conserving resources but also helping in the reduction of waste, making a positive contribution to our planet’s sustainability.

The Environmental Toll of Mining

Using recycled precious metals helps preserve natural resources that may be impacted by traditional mining processes. The mining process can lead to deforestation, water pollution, and habitat destruction. By recycling precious metals, you can reduce the need for extensive mining operations, which helps reduce environmental damage and preserve ecosystems.

The Benefits of Choosing a Top Precious Metal Refinery

When choosing a top precious metal refinery, businesses and individuals can benefit from a range of advantages beyond just promoting sustainability. Refineries like Manhattan Gold & Silver have advanced technology and processes in place to maximize the recovery of precious metals from your recycled materials. This means that sellers get a higher yield of valuable metals, increasing their return on investment.

Additionally, our team is known for their expertise and reliable services. They can provide accurate assessments of precious metal content in scrap materials, ensuring that you are compensated fairly when you choose to sell your precious metals.

Recycling precious metals not only reduces waste, but also conserves resources and supports sustainability in the industry. By choosing a top precious metal refinery like Manhattan Gold & Silver, you are taking a proactive step towards a cleaner, greener Earth. So why wait? Start today by estimating your payout and make a positive impact on the environment by selling your gold, silver, rhodium, platinum, and palladium. Remember, every small choice we make adds up to a big difference. Happy Earth Day!

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Rhodium: A Hidden Gem of the Precious Metals Market https://www.mgsrefining.com/blog/rhodium-a-hidden-gem/ Wed, 25 Oct 2023 13:54:58 +0000 http://mgsrefining.com/?p=19234 Most people haven’t heard of rhodium. But this unsung hero of the precious metals market is making a remarkable rise that is outperforming gold, platinum, and palladium. Rhodium seems to be the hidden gem that everyone has overlooked. In this article, we’ll delve into the secrets behind rhodium’s high value, the factors fueling its record […]

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Most people haven’t heard of rhodium. But this unsung hero of the precious metals market is making a remarkable rise that is outperforming gold, platinum, and palladium. Rhodium seems to be the hidden gem that everyone has overlooked.

In this article, we’ll delve into the secrets behind rhodium’s high value, the factors fueling its record highs, and provide insights into this underappreciated precious metal.

Whether you’re an investor looking for the next big opportunity or an industry insider seeking to expand your knowledge, keep reading. Rhodium is shining brightly in the precious metals market. Are you ready to uncover its hidden potential?

What is Rhodium? The Basics

Rhodium, one of six Platinum Group Metals (PGMs), is a highly reflective silver-white metallic element that is resistant to corrosion. Some basic facts about rhodium:

  • It’s the most valuable and rare metal in the world
  • Rhodium has a higher melting point and lower density than platinum
  • This metal is primarily used in catalytic converters for gas powered vehicles

The Surge of Rhodium: Outperforming Gold and Silver

The surge of rhodium’s value has been impressive, surpassing even the longstanding powerhouses of gold and silver. So, what’s behind this unexpected rise? Uncovering the secrets to rhodium’s exceptional value will shed light on why it has become such an asset in the precious metals market.

Uncovering the Secrets: Why Rhodium is So Valuable

One key factor driving rhodium’s value is its scarcity. Rhodium is an incredibly rare metal, with annual production estimated to be around just 30 tons globally. This scarcity makes it highly sought after by collectors and investors alike.

Another aspect contributing to rhodium’s value is its unique properties. Rhodium is highly resistant to corrosion and oxidation, making it ideal for use in a variety of industrial applications. From catalytic converters in vehicles to electrical contacts in electronic devices, rhodium’s exceptional durability makes it an indispensable component in various industries.

Rhodium plays a vital role in the automotive industry’s efforts to reduce emissions. As governments worldwide tighten regulations to combat pollution, the demand for rhodium in catalytic converters has surged. Rhodium’s unique ability to convert harmful pollutants into less harmful byproducts has made it an essential element in the fight against air pollution, further fueling its value.

Additionally, geopolitical factors have also contributed to the rise in rhodium’s value. Most rhodium production is concentrated in South Africa, where mining operations are subject to various challenges and risks. Political instability, labor strikes, and supply disruptions can substantially impact rhodium production, leading to supply shortages and driving up its price.

Factors Fueling Rhodium’s Record Highs

The political landscape in South Africa has been known to be volatile, with frequent changes in government policies and regulations. These uncertainties can create disruptions in mining operations and hinder the production of rhodium. Additionally, labor strikes disrupt the supply chain and cause delays in the delivery of rhodium to the market. These delays can further tighten the already limited supply of rhodium, pushing its price to new heights.

Supply disruptions, like floods and earthquakes, can occur and impact mining operations in South Africa. The country has experienced instances where extreme weather conditions have caused significant damage to infrastructure and disrupted production. These unforeseen events can further exacerbate supply shortage.

The combination of these geopolitical challenges with the already limited supply of rhodium has created a perfect storm for record highs in its value. Investors and market participants are aware of the potential risks associated with mining operations in South Africa, causing them to anticipate and react to any potential disruptions in supply.

Understanding the factors driving rhodium’s exceptional ascent sets the stage for exploring the exciting world of rhodium in more detail.

Insights into the Exciting World of Rhodium

Rhodium, known for its brilliant silvery-white shine, is not only an aesthetically appealing metal but also holds remarkable properties that make it indispensable in a variety of industries.

One of the fascinating aspects of rhodium is its exceptional resistance to corrosion. Unlike many other metals, rhodium remains unscathed by the forces of nature, making it a vital component in the production of durable and long-lasting products.

In addition, the value of rhodium extends beyond its physical properties. It plays a crucial role in the world of finance and investments. The scarcity of rhodium coupled with its increasing demand, has made it a popular choice for collectors. Rhodium presents an opportunity for lucrative returns due to its rapid appreciation in value.

Rhodium’s significance extends to the field of medicine too. Its antimicrobial properties make it a valuable tool in combating bacterial infections. Rhodium-coated medical instruments have been shown to reduce the spread of harmful bacteria in healthcare settings, contributing to better patient outcomes.

With such a versatile range of applications, rhodium continues to captivate the interest of scientists, investors, and industry experts alike. Its scarcity, resilience, and unique properties make it a truly mesmerizing metal.

In a market dominated by gold and silver, rhodium has emerged as a hidden gem, surpassing expectations, and shining brighter than ever before.

To take advantage of this hidden gem, reach out to Manhattan Gold and Silver, who can guide you through the process of selling rhodium and unlocking its true value.

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How Precious Metals Are Measured https://www.mgsrefining.com/blog/how-precious-metals-are-measured/ Wed, 11 Jan 2023 13:00:11 +0000 http://mgsrefining.com/?p=17081 There are a variety of ways precious metals are measured. Read on to learn more about avoirdupois ounces, troy ounces, pennyweight, grains, and caratage.

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Precious metals are measured in a different way than other materials, including a variety of specific measurement units for mass and purity.

Let’s look at the difference between troy and avoirdupois ounces, pennyweights, and carats when it comes to measuring metals.

Troy and Avoirdupois Ounces as Metal Measurements

The troy ounce originated as a system for measuring bronze currency in the Roman empire. One unit equaled a pound, and the Romans assigned 12 “unicas” (or ounces) to each pound.

Later uses of this system increased the pound to include 16 ounces, which came to be identified as an avoirdupois ounce, as “avoir de pois” meant “goods sold by weight” in Middle English.

The troy ounce is now an imperial unit of measure that is used only for precious metal measurements. One troy ounce equals 31.1034768 grams, while a single avoirdupois ounce is 28.349523125 grams, making the troy ounce heavier by almost 10 percent.

Pennyweight as a Precious Metal Measurement

Another common unit for measuring precious metals is the pennyweight, which began as a part if the troy weight system in England during the 15th century.

At that time, English pennies were precisely 1/20th of a troy ounce, which is why 20 pennyweights equal a single troy ounce, or 31.1 grams.

To help with calculating a price for your precious metals, you might want to use our pennyweight calculator and conversion chart. These tools will allow you to determine the value of your metals.

Grain as a Precious Metal Measurement

Grains are the smallest unit of precious metal measurement, and it’s not often used in the sale of gold, silver, platinum, or other metals, which tend to be valued in grams or troy ounces.

However, gold bullion companies have recently begun to take notice of the market for precious metal grain amounts. This is especially true when it comes to valuing pure gold bars, where a one grain gold bar weighs in at about .065 grams.

Carat as a Precious Metal Measurement

While the weight of gold is measured in troy ounces, its purity is calculated and quantified in karats (kt). In North America, the spelling is “karat,” but it is referred to as “carat” elsewhere in the world. This can be easily confused with another jeweler’s term – which is a unit of mass used to measure the weight of gemstones – also spelled as “carat,” as in “a two-carat diamond.”

Karats are determined by dividing the mass of the metal by the amount of gold within the metal and multiplying by 24. Twenty-four karats is equal to pure gold, 18kt is equal to 75%, 12kt is 50%, and so on.

Most countries have a legal karatage minimum for a metal to be sold as gold. In the United States, the accepted gold standard is 10 karats and above. In many parts of Europe, there’s a lower minimum gold standard of 8 to 9 karats.

Precious Metal Conversions

Most of the measurement units we’ve discussed can be converted into or out of one another. Take a look at the below precious metal conversions chart to learn more about how to find the value of your jewelry, coins, or bullion bars.

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Where is Platinum Mined Around the World? https://www.mgsrefining.com/blog/where-is-platinum-mined-around-the-world/ Wed, 11 May 2022 12:00:51 +0000 http://mgsrefining.com/?p=14543 Learn where platinum is mined around the world and which specific countries are major sources of this valuable precious metal.

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Platinum is one of the world’s most expensive precious metals, and for good reason. Its price is largely driven by its rarity, compounded by the fact that it has so many valuable uses.

The uses of platinum are as varied as the countries within which it’s found. They range from detoxifying automobile emissions in catalytic converters, to serving as an element in cancer treatment drugs.

A Brief History & Background on Platinum

When compared to the history of gold or silver, platinum’s written history is indeed very brief. The metal is said to have first been discovered by South American native peoples, who used a combination of gold and platinum alloy to craft various symbolic artifacts and pieces of jewelry. This was first made apparent by Spanish conquistadors during the conquest of South America, who regarded it as an impurity within the gold and silver they found.

Platinum was later written about in 1557 by Julius Caesar Scaliger. Scaliger was an Italian humanist and poet who described it as a metal that could not be melted by any technique known at the time. The platinum he was referring to had purportedly been found in a mine between Panama and Mexico.

Today, platinum can be found in small quantities across dozens of countries, but only five account for roughly 97% of the world’s supply. It’s rare to find platinum above ground, with most deposits residing deep in the earth’s crust.

The ore is almost always found to include other metals, and platinum itself is a part of the Platinum Group Elements (PGEs): rhodium, ruthenium, palladium, osmium, and iridium. While less common, platinum and the other PGEs can be found in ore containing other precious metals and gems, including silver, gold, and diamond.

Below, we’ll summarize the primary sources where platinum is mined, in addition to some of the more obscure locations where it has been (or could be) found.

South Africa

South Africa is currently the number one source of platinum on the planet, accounting for over 70% of the world’s supply. Without getting too technical, the highest density of mines can be found within the Bushveld Igneous Complex. This unique vertically layered intrusion of the earth’s crust is comprised of three major zones that yield platinum: The Merensky Reef, the UG2 Reef, and the Platreef.

Russia

Mines in Russia account for roughly 15% of the world’s supply of platinum. The Ural Mountains and the Taimyr Peninsula in Siberia are the largest sources of the precious metal. More specific data on reserves and the number of mines in these regions is uncertain as the country regards it as classified information.

 Zimbabwe

Zimbabwe is also known to have substantial platinum reserves. At present, three significant mining operations located near the center of the country focus on extracting platinum from a geological feature known as the Great Dyke.

Canada

Canada is the fourth largest source of platinum in the world, with most deposits being in Ontario and Quebec. Despite the relative abundance of the metal in these provinces, platinum is primarily a byproduct of nickel mining operations.

United States

Within the US, at least four states contain platinum mining operations. Many mines can be found within Montana, while smaller operations and reserves are located in Alaska, Arizona and Minnesota.

Other Sources of Platinum

In addition to the countries mentioned above, platinum has been found in the Choco Department of Colombia, within copper mines in central Peru, New South Wales in Australia, and even on an ancient volcanic island off the western coast of Scotland called Rum.

Further afield, in outer space, platinum is suspected by scientists to exist in large quantities on asteroids, meteoroids, and even on the moon.

Have Platinum You’d Like to Sell?

Unfortunately, we’re still a long way away from setting up mining operations in space, and most of us might not have access to a platinum mine in a faraway country. However, it’s not uncommon to have platinum scrap laying around given its wide range of uses across many industries.

If you have platinum you’d like to turn into cash, find out how to sell us your lot today and get paid a fair price based on the current London market price fixings.

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What Is Rhodium Used For? https://www.mgsrefining.com/blog/what-is-rhodium-used-for/ Wed, 06 Apr 2022 12:00:39 +0000 http://mgsrefining.com/?p=13366 Rhodium is the rarest of the platinum group metals and always in high demand. Learn why as we answer the question, "What is rhodium used for?"

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Rhodium is one of the six platinum group metals (PGMs), which are rare, valuable precious metals. Like other PGMs, rhodium has high heat resistance and a high melting point (3567° F), it’s chemically inert, it’s very resistant to oxidation and corrosion, and it has exceptional catalytic properties. These and other characteristics make this reflective, silver-white noble metal particularly good for certain applications… So, what is rhodium used for? Let’s take a closer look.

Where Does Rhodium Come From?

Rhodium is one of the rarest precious metals, and it’s the rarest of the six PGMs (which also include platinum, palladium, osmium, iridium, and ruthenium). Extracting it is a complicated and expensive procedure. The ores are generally mixed with other precious metals, including platinum, gold, silver, and palladium, and there are very few rhodium-bearing minerals. It’s obtained as a byproduct of platinum, nickel, and copper mining. Most rhodium—over 80% of the global supply—is found in South Africa, but it’s also mined to a much lesser extent in Russia, Canada, and Zimbabwe, and in even smaller amounts elsewhere.

Uses for Rhodium

Rhodium is primarily used for making catalytic converters for gasoline-powered vehicles. In fact, this application accounts for a little more than three-quarters of worldwide demand for rhodium. Basically, catalytic converters change the toxic gases in exhaust (especially nitrogen oxides) into gases that are less damaging to the environment and to our health, creating less harmful emissions.

Another 5-7% of rhodium goes to making catalysts for the chemical manufacturing sector.  For example, catalysts containing rhodium help make raw materials used in the production of fertilizers and explosives.

Glass production accounts for about another 3-6% of rhodium use. This precious metal has perfect characteristics for creating the vessels that contain and shape molten glass. It’s also used to produce glass fiber, and liquid crystal displays (LCDs).

Rhodium’s high shine and resistance to scratching and tarnishing also make it useful as a plating for jewelry. In addition, rhodium is sometimes used to make a finish for mirrors, optical instruments, electrical components, high-heat manufacturing and lab equipment, electrodes for aircraft spark plugs, thermocouples, sputtering targets, and more.

Have Rhodium Scrap to Sell?

Rhodium is an extremely valuable precious metal. Turn yours into cash with our transparent assaying process and fast payments based on the current London market price fixings. If you have rhodium (or gold, silver, platinum, or palladium), learn how to sell us your lot now.

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A Quick Look at Manufacturing and Industrial Uses for Platinum https://www.mgsrefining.com/blog/a-quick-look-at-manufacturing-and-industrial-uses-for-platinum/ Wed, 09 Mar 2022 13:00:27 +0000 http://mgsrefining.com/?p=13360 There are many manufacturing and industrial uses for platinum that drive demand, and with it, the payout you can receive for selling platinum scrap.

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Platinum is such a valuable precious metal because it has that winning combination of high demand and low supply. In addition to functioning as a store of value, there are numerous manufacturing and industrial uses for platinum that can’t be met with other, more accessible materials (in a practical way, at least).

Platinum Supply and Demand in Industry

Platinum has certain physical and chemical characteristics that make it so uniquely useful for manufacturing and industrial purposes. In fact, manufacturing and industrial demand for platinum has increased by an average of 3% to 7% each year for the past couple of decades.

Some of the characteristics that make platinum so beneficial for manufacturing and industrial purposes include:

  • Exceptionally high heat tolerance/melting point
  • Strong, dense, and durable
  • Ductile (can stretch before it breaks)
  • Catalytic effects for chemical reactions that are valuable to various processes
  • Highly corrosion-resistant
  • Holds up in very acidic environments
  • Inert, preventing chemical reactions with other substances
  • High electrical conductivity
  • Well tolerated by the human body and radiopaque (X-rays don’t pass through it), relevant because platinum is used in the production of certain internal medical devices
  • Hypoallergenic

At the same time, there isn’t an enormous quantity of platinum to go around. In fact, it’s one of the rarest metals on Earth, and it’s only found in a handful of countries. The global platinum supply comes from mines in South Africa, Russia, Zimbabwe, the US (Montana, specifically), and Canada.

Manufacturing and Industrial Uses for Platinum

Here are some of the manufacturing and industrial uses for platinum that drive its demand. Platinum is used in the production of:

  • Jewelry
  • Industrial-grade thermocouple wire
  • Industrial-strength detergents
  • Plastics and polyester
  • Propylene from propane
  • Petroleum from crude oil
  • Specialty silicones
  • Catalytic converters for vehicles
  • Hydrogen fuel cells and the electric vehicles they power
  • Medicines for cancers, blood disorders, and other conditions
  • Laser-generating crystals
  • Explosives
  • Electronic devices that contain circuit boards (computers, tablets, smartphones, servers, televisions, radios, appliances, robotics, and so on)
  • Sensors (in items like airbags deployments systems, carbon monoxide detectors, breathalyzers, resistance thermometers, and more)
  • Medical, geological, and other laboratory equipment
  • Medical devices—especially implantable ones—such as those that measure or regulate cardiac, blood, nerve, and other activity in the body
  • Fertilizers for industrial farming

Turn Your Platinum Scrap into Capital

If you have platinum scrap or items, Manhattan Gold & Silver will purchase it from you. We buy from industrial and mining operations, jewelers, pawnbrokers, dental practices, and other business enterprises with platinum to sell. Please note that we do not buy from individuals.

We quickly assay your lot, accurately identifying and weighing the platinum content. Then, we make immediate payment based on the current London market fixing for platinum prices.

Get an idea of what your lot is worth with our easy-to-use online payout estimator tool.

You can either visit our Midtown Manhattan location for assaying on the spot and same-day payment, or ship your platinum to us. Our address is 45 W 47th Street, New York, NY 10036. If you have any questions, please don’t hesitate to contact us.

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What’s the Difference Between a Refinery and a Mint? https://www.mgsrefining.com/blog/whats-the-difference-between-a-refinery-and-a-mint/ Wed, 02 Mar 2022 13:00:04 +0000 http://mgsrefining.com/?p=13357 Are you curious about the difference between a refinery and a mint? Learn more here about what distinguishes these enterprises from each other.

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Some people aren’t too clear about the difference between a refinery and a mint. The confusion is understandable, as both entities deal with precious metals, and some mints are also refineries. But there are some key things that distinguish mints and refineries from each other.

So, to help you better understand the purposes of each, here’s a quick look at the difference between a refinery and a mint.

Basic Information About Refineries

The primary purpose of refineries is to, well, refine precious metals. Basically, they take scrap, jewelry, and other items containing commercially valuable metals like gold, silver, platinum, palladium, and rhodium; separate the components; melt and purify the precious metals; and then recast them into high-purity bars. This allows the metal to return to the market in a more practical form.

Refineries recast existing precious metal bars into smaller or larger ones, too. Also, they offer assaying services, meaning they test the precious metal content of an object, weigh it, and value it. Some also manufacture and sell bullion or precious metal components to be used in jewelry and other goods. And then there are refineries that offer precious metal storage or other related services, and that trade precious metals on the global market.

One important thing to point out regarding the difference between a refinery and a mint is that refineries are usually privately owned companies. Mints, on the other hand, are typically owned by governments. But more on that below. A refinery’s customers include organizations like mining companies, banks, jewelry businesses, metal recycling companies, and dental practices.

Manhattan Gold & Silver is a refinery, so feel free to explore our website to get a better idea of what we do and who we do it for.

Basic Information About Mints

The main function of a mint is to produce coinage. These include coins circulated as national currency as well as bullion coins used for investing and collecting purposes.

As mentioned above, mints are usually owned by national governments because of their role in producing currency. A few examples include the United States Mint, the Royal Canadian Mint, and the Perth Mint in Australia.

And again, some mints operate their own refinery. The Royal Canadian Mint and Perth Mint both do so. This allows them to more efficiently and cost-effectively produce their own supply of bullion to use in minting coins. It also means they can produce investment-grade bullion bars to sell and trade as an additional source of revenue.

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Platinum in Hydrogen Fuel Cells: How This Metal Makes Hydrogen-Powered Vehicles Possible https://www.mgsrefining.com/blog/platinum-in-hydrogen-fuel-cells-how-this-metal-makes-hydrogen-powered-vehicles-possible/ Wed, 16 Feb 2022 13:00:54 +0000 http://mgsrefining.com/?p=13324 Learn why there's platinum in hydrogen fuel cells, and why hydrogen-powered vehicles are an environmentally friendly alternative for the future.

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Combustion engines are bad for the environment and our health, giving off carbon dioxide, carbon monoxide, nitrogen oxides, hydrocarbons, and other damaging emissions. And while electric vehicles don’t create tailpipe emissions and are significantly less harmful than gasoline-powered vehicles, the production of electricity usually has a carbon footprint (which varies depending on the power source). Hydrogen-powered vehicles are a potentially more environmentally friendly alternative, and they’re made possible by the platinum in hydrogen fuel cells.

What Are Hydrogen Fuel Cells?

A hydrogen-powered vehicle is still an electric-powered vehicle. But hydrogen fuel cells are an eco-friendly, emissions-free way of producing electricity.

Fuel cells produce electricity, and they’re similar to batteries in many ways (e.g., they have no moving parts, they make no sound, they generate electricity via an electrochemical reaction rather than combustion, etc.). There are different types of fuel cells, but the most common and most extensively researched type is the proton exchange membrane (PEM) fuel cell—otherwise known as a hydrogen fuel cell.

Without getting too technical, these fuel cells convert hydrogen and oxygen into electricity. The only byproduct of this process is heat and water. There are no greenhouse gases given off or any other emissions created that damage the environment or human health.

Why Is There Platinum in Hydrogen Fuel Cells?

Platinum has certain characteristics that make it well suited to a variety of industrial and power-related uses. These same characteristics are why there’s platinum in hydrogen fuel cells. Platinum electrodes are used to catalyze the reaction between hydrogen and oxygen that generates electricity.

Platinum has exceptionally high heat tolerance and stable electrical conductivity, and it’s extremely resistant to oxidation and corrosion. There are other metals with similar qualities, but platinum can also stand up to the highly acidic environment within a fuel cell.

Platinum for Powering the Future

As research and development on hydrogen-powered vehicles ramps up, we can reasonably expect the demand for platinum to increase in the coming years.

At the moment, there are only two cars powered by hydrogen fuel cells available in the U.S.—and only in California and Hawaii, at that. They’re the Toyota Mirai and the Honda Clarity. Recently, news broke that a company called Forze Hydrogen Racing will enter hydrogen-powered racecars into the world-famous 24 Hours of Le Mans endurance race in 2024. This will undoubtedly bring a lot of new attention to this type of alternative vehicle.

As interest in issues of sustainability increases, and as hydrogen-powered vehicles are further developed and become more widely available, the fact that we need platinum in hydrogen fuel cells should drive up demand, as well as platinum prices.

In terms of precious metal refining, this will most likely create a new source of platinum for recycling, and higher prices paid out for platinum scrap and items. For now, go here if you have platinum you’d like to sell.

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There’s Money in Recycling Thermocouple Wire https://www.mgsrefining.com/blog/theres-money-in-recycling-thermocouple-wire/ Wed, 05 Jan 2022 13:00:52 +0000 http://mgsrefining.com/?p=13067 Did you know that recycling thermocouple wire can be profitable? Read about which thermocouple wires are valuable and what to do with them.

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Recycling thermocouple wire offers a way to cash in on what might otherwise seem like scrap. Thermocouples are used in monitoring and controlling temperatures. They’re commonly found in factories as well as in appliances. Basically, when it’s too hot to put a thermometer somewhere, you place a sensor connected by thermocouple wire to a remotely located temperature-reading or temperature-regulating device.

Where Is Thermocouple Wire Found?

Thermocouple wire made with heat-resistant precious metals is often found in industrial and scientific settings. It’s commonly used to measure temperature in diesel engines, gas turbine exhaust, automated welding equipment, kilns, and a variety of other industrial machines and processes. These include most production line or testing machines that heat or cool materials, that monitor temperature with a remote gauge, and that monitor radiation levels.

Also, thermocouple wire made with base metals is found in thermostats, attached to flame sensors in safety mechanisms for gas-powered devices, in power cutoff switches, and in a variety of residential and commercial appliances. These include water heaters, furnaces, air conditioners (central and window units), fire safety and alert systems, ovens, electric space heaters, coffee makers, and others.

When Is Thermocouple Wire Valuable?

Thermocouple wire is made of at least two metals. Depending on how the wire was used, it could contain platinum, rhodium, palladium, or gold. And that’s why you can get paid for recycling thermocouple wire.

Rare metals are used in thermocouple wires when higher temperatures are involved. So, the wiring used for something like a coffee maker, stove, or air conditioning unit is made using less valuable base metals. However, thermocouple wire for industrial purposes is likely to contain valuable metals like platinum.

Base metal thermocouple wires are typically made with metals like nickel, copper, and aluminum. These can be used when measuring temperatures up to about 2200 degrees Fahrenheit. Rare metal thermocouple wires are used to measure temperatures up to about 3600 degrees F, and they almost always contain some platinum.

Interested in Recycling Thermocouple Wire?

If you’re interested in recycling thermocouple wire that was used in an industrial setting, contact us today. We can help you determine what type of thermocouple wire you have and its value. We offer fast, fair payouts for thermocouple wire containing platinum, gold, palladium, or rhodium.

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